Friday March 27, 2009
"Select utilities are the kind of investments you want in this environment; they'll to chug along no matter what happens," says Nilus Mattive in Dividend Superstars.
"In addition, their dividends are some of the safest you’ll find. Just look at Consolidated Edison (NYSE: ED). The company recently raised its quarterly payment to $0.59.
"While this dividend increase represented a very small increase, it demonstrates the firm’s financial strength and commitment to shareholders.
"Meanwhile, WGL Holdings (NYSE: WGL) announced first-quarter earnings that rose about 7% from the same quarter a year earlier.
"Even better, the utility raised its forecast for the full year! The utility says it now expects to earn between $2.41 and $2.53 a share. Nice.
"What about Integrys Energy (NYSE: TEG)? They also raised their dividend this past month. That marked the 51st consecutive yearly increase. Wow!
"Like Con Ed’s hike, the increase was largely symbolic. But that’s still a pretty nice signal to investors, and it keeps TEG’s stellar record intact."
